Truvestments Capital LLC Invests $60,000 in Constellation Brands, Inc. (NYSE:STZ)

Truvestments Capital LLC bought a new position in shares of Constellation Brands, Inc. (NYSE:STZ) in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 234 shares of the company’s stock, valued at approximately $60,000.

A number of other hedge funds have also recently modified their holdings of STZ. International Assets Investment Management LLC grew its holdings in shares of Constellation Brands by 23,184.7% in the third quarter. International Assets Investment Management LLC now owns 499,689 shares of the company’s stock valued at $128,765,000 after purchasing an additional 497,543 shares during the period. Manning & Napier Advisors LLC purchased a new stake in shares of Constellation Brands in the second quarter valued at about $119,394,000. Boston Partners grew its holdings in shares of Constellation Brands by 50.9% in the first quarter. Boston Partners now owns 975,589 shares of the company’s stock valued at $265,099,000 after purchasing an additional 328,881 shares during the period. Dimensional Fund Advisors LP boosted its stake in Constellation Brands by 31.8% during the second quarter. Dimensional Fund Advisors LP now owns 1,002,332 shares of the company’s stock worth $257,865,000 after buying an additional 241,982 shares during the period. Finally, Coho Partners Ltd. boosted its stake in Constellation Brands by 40.1% during the third quarter. Coho Partners Ltd. now owns 283,079 shares of the company’s stock worth $72,947,000 after buying an additional 80,970 shares during the period. Hedge funds and other institutional investors own 77.34% of the company’s stock.

Analysts Set New Price Targets

STZ has been the subject of several research analyst reports. Barclays lowered their target price on shares of Constellation Brands from $309.00 to $300.00 and set an “overweight” rating for the company in a research note on Monday, October 7th. UBS Group lowered their target price on shares of Constellation Brands from $320.00 to $295.00 and set a “buy” rating for the company in a research note on Monday, September 9th. Bank of America reaffirmed a “neutral” rating and set a $255.00 target price (down previously from $300.00) on shares of Constellation Brands in a research note on Monday, October 7th. Evercore ISI lowered their target price on shares of Constellation Brands from $310.00 to $300.00 and set an “outperform” rating for the company in a research note on Friday, October 4th. Finally, TD Cowen lowered shares of Constellation Brands from a “buy” rating to a “hold” rating and lowered their target price for the stock from $300.00 to $270.00 in a research note on Tuesday, October 8th. Five analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, Constellation Brands has an average rating of “Moderate Buy” and an average target price of $289.16.

Insider Buying and Selling at Constellation Brands

In other Constellation Brands news, EVP Samuel J. Glaetzer sold 1,510 shares of the stock in a transaction that occurred on Monday, October 14th. The shares were sold at an average price of $245.57, for a total value of $370,810.70. Following the transaction, the executive vice president now directly owns 4,970 shares in the company, valued at $1,220,482.90. This represents a 23.30 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO William A. Newlands sold 7,426 shares of the stock in a transaction that occurred on Tuesday, October 29th. The shares were sold at an average price of $237.24, for a total transaction of $1,761,744.24. Following the completion of the transaction, the chief executive officer now owns 7,274 shares in the company, valued at $1,725,683.76. This represents a 50.52 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 189,956 shares of company stock worth $46,058,091 over the last three months. Insiders own 12.19% of the company’s stock.

Constellation Brands Stock Up 1.0 %

Shares of NYSE:STZ opened at $235.97 on Thursday. The firm’s 50 day moving average price is $242.12 and its 200 day moving average price is $247.00. The stock has a market cap of $42.84 billion, a price-to-earnings ratio of 76.37, a price-to-earnings-growth ratio of 1.71 and a beta of 0.90. Constellation Brands, Inc. has a fifty-two week low of $224.76 and a fifty-two week high of $274.87. The company has a quick ratio of 0.53, a current ratio of 1.25 and a debt-to-equity ratio of 1.31.

Constellation Brands (NYSE:STZ) last issued its earnings results on Thursday, October 3rd. The company reported $4.32 earnings per share for the quarter, beating the consensus estimate of $4.08 by $0.24. The firm had revenue of $2.92 billion for the quarter, compared to analysts’ expectations of $2.95 billion. Constellation Brands had a net margin of 5.29% and a return on equity of 25.34%. The firm’s revenue was up 2.9% compared to the same quarter last year. During the same quarter last year, the company earned $3.70 earnings per share. As a group, equities research analysts predict that Constellation Brands, Inc. will post 13.57 earnings per share for the current fiscal year.

Constellation Brands Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, November 21st. Shareholders of record on Tuesday, November 5th were paid a $1.01 dividend. The ex-dividend date was Tuesday, November 5th. This represents a $4.04 annualized dividend and a yield of 1.71%. Constellation Brands’s dividend payout ratio is currently 130.74%.

Constellation Brands Company Profile

Constellation Brands, Inc, together with its subsidiaries, produces, imports, markets, and sells beer, wine, and spirits in the United States, Canada, Mexico, New Zealand, and Italy. The company provides beer primarily under the Corona Extra, Corona Familiar, Corona Hard Seltzer, Corona Light, Corona Non-Alcoholic, Corona Premier, Corona Refresca, Modelo Especial, Modelo Chelada, Modelo Negra, Modelo Oro, Victoria, Vicky Chamoy, and Pacifico brands.